Wormhole, a cross-chain bridge, commenced an airdrop to reward early users with 617 million units of its freshly minted governance token W.-based decentralized exchange OpenBook at an initial price of $1.66, boasting a market capitalization of $2.98 billion and a fully diluted valuation of $16.5 billion.The airdrop of W tokens to early users incentivizes participation and engagement within the Solana network.
Moreover, the revenue generated by the protocol had also grown by 494.6% owing to rising activity on the network. These factors could end up impacting the overall sentiment around SOL in the future. At press time, the sentiment around the network remained relatively positive. AMBCrypto’s analysis of Santiment’s data revealed that the weighted sentiment around Solana had increased. This meant that the number of positive comments around the network had outnumbered the negative ones.
The social volume around Solana had also increased during this period, indicating that its popularity across social media platforms had surged.Himalay is a full-time journalist at AMBCrypto. A Computer Science graduate, Himalay writes about crypto with a special focus on the latest coin-based updates. He is a fan of gonzo journalism, transgressive fiction, heavy metal, and Manchester United.Subscribe to get it daily in your inbox.
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